Stocks finished lower for a second day in a row as the end of
the month effect and overbought conditions give away to
profit-taking, renewed short selling and ever-present anxieties
over the economy. Light pre-holiday trading volumes also made
stocks easy to move ahead of the Labor Day Weekend.
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Down three days in a row ahead of its scheduled earnings
announcement on Tuesday are shares of
VeriFone Holdings Inc
) . The stock has been trading below its 200-day moving average
Also down three in a row heading into its earnings announcement
) sold-off by more than 3% in Friday's session. ALTR began trading
below its 200-day moving average in early August.
Here are 7 Stocks You Need to Know for Tuesday.
Selling accelerated in financials stocks on Friday, setting up
severely oversold conditions in stocks like
JPMorgan Chase and Co.
Bank Of America Corp
) when trading begins on Tuesday. Shares of BAC fell by more than
Industrial stocks like
Dow Chemical Co
) were also experiencing heavy selling at week's end. Both stocks
pulled back by more than 3% on Friday.
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What's up on a down day? Shares of
Newmont Mining Corp
) gained more than 3% in Friday's trading to close at their highest
levels of the year. Friday's puts the stock in overbought territory
above the 200-day moving average.
News that Starz Entertainment was breaking off content renewal
) sent the stock tumbling in afterhours trading on Thursday. Down
more than 8% in Friday's session, the stock is back below its
200-day moving average.
Gaining more than 8% and increasingly overbought below the
200-day are shares of
) . The stock has been trading below its 200-day since mid-May, and
has closed higher for five out of the past six sessions.
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is Editor in Chief of TradingMarkets.com